Standard & Poor's global automotive report: The future domestic automotive production capacity utilization rate will return to a healthy level of 80%.

Tao Gao, Joint Director of the S&P Global Automotive Analysis in Greater China region, stated on August 14th that according to S&P Global Automotive's calculations, domestic automobile production capacity reached its peak in 2017-2018. In these two years, with the survival of the fittest in the automotive industry, a large number of new car makers have begun to exit, leading to a significant decrease in overall production capacity. At the same time, the domestic production capacity utilization is relatively flexible. Although the current production capacity utilization rate is at a relatively low level, with the continuous growth of export markets in the coming years and the recovery of domestic car consumption, it is expected that the domestic automobile production capacity utilization rate will return to a healthy level of 80%.